The Reasons why Your Law Firm Requires a Billing Software
There are of course a number of the billing software available out there and as a matter of fact your business is at liberty to choose whichever software it deems fit for it but in reality and actual sense, it will only be best with software that actually do have software with features that are particular to the legal profession or industry. It is important that you have indeed in mind the fact that generic business software will work perfectly for generic business. If you are a law practitioner then you will require a billing system that is equally specialized in its nature to the billing of such practice for it is only such that have the ability to deal with the billing needs of the law practices and concerns. One of the billing types that an estate planning software can provide which is so unique to the practice of the lawyers is matter-based billing.
The normal business software is in a position to take care of client billing and as well can deal with the multiple billing models like hourly rates and the flat rates. These are however somehow inappropriate for a legal practice in the sense that they handle the billing in terms of client and not in the nature or class of assignment. For the best organization of the matters for a legal practice, as a n attorney you must have the matters you are dealing with separated into separate billing systems.
We will take an example to illustrate our point. We will have a character in the name of Tim Parker getting a divorce and your firm is taking them through this. Look at the complexities arising in the case where this same person, bearing the same name, having your very company to not only deal with the divorce case but as well deal with the issues of their will, getting it updated to reflect the facts of the dissolved marriage. In your contract agreement for the services, your firm takes on the divorce case at an hourly rate with the retainer and the will you settle for a deal with an agreement on the flat fee basis. Without a doubt, for the sake of efficiency and professional service to the clients, you will have to have these two cases kept separate. This need to have separate accounts and systems for the billing of the same client for separate cases is so particular considering a situation such as you may experience where you find that the case of helping them with the need for estate planning which you agreed to charge on a flat rate ending up in the end incurring additional expenses which will call on you to bill the client and you may not be so professional taking the charges or bills from the retainer you hold for the divorce case.
Even trying it out by creating two different accounts within the same system, such as for a “Tim Parker-Will” file and another one labeled, “Tim Parker-Divorce” file as this will in actual sense end up mixing you up in practice and may make you lose your credibility as a professional attorney.